Groundbreaking Ceremony likely to be launchpad for investments in 25 sectors - Hindustan Times
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Groundbreaking Ceremony likely to be launchpad for investments in 25 sectors

By, Lucknow
Feb 15, 2024 09:06 AM IST

Those aware of the development say they include 325 projects each with investments of over ₹500 crore

A war room of sorts to monitor operations round the clock has come up at the Indira Gandhi Pratisthan (IGP)--the venue of the state government’s Groundbreaking Ceremony (GBC) 4.0 where Prime Minister Narendra Modi will on February 19 perform ‘bhoomi pujan’ to set the ball rolling for nearly 14,500 projects involving investments worth 10.11 lakh crore.

Preparations underways at Indira Gandhi Pratishthan in Lucknow for the massive event starting February 19 (Deepak Gupta)
Preparations underways at Indira Gandhi Pratishthan in Lucknow for the massive event starting February 19 (Deepak Gupta)

The upcoming even will see the implementation of investments in nearly 25 sectors, including renewable energy and information technology.

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Those aware of the development say they include 325 projects each with investments of over 500 crore, 900 more each with an investment value of 100 to 500 crore and 12,000 to 13,000 others each worth 100 crore. A team of Infrastructure and Industrial Development that includes INVEST UP has been working for the past two months to make the grounding of such a large investment possible.

INVEST UP, which has virtually shifted its offices to the venue at the IGP, is the state government’s investment promotion and facilitation agency. “Immediately after the Uttar Pradesh Global Investors Summit-2023, our prime task was to translate the memorandums of understanding (MoUs) and intents into investment. Our team of nearly 50 members has been working hard for nearly two months under the leadership of Infrastructure and Industrial Development Commission (IIDC) Manoj Kumar Singh. Chief minister Yogi Adityanath has been holding meetings regularly guiding us at every stage,” said INVEST UP chief executive officer (CEO) Abhishek Prakash.

The state government has organised three groundbreaking ceremonies so far to implement the MoUs signed through the Uttar Pradesh Investors Summit-2018. It worked out a strategy for the Uttar Pradesh Global Investors Summit-2023 organised here from February 10 to 12, 2023 and the state government claims to have received investment proposals worth 40 lakh crore.

“We have received foreign investments too. Many multinational companies are implementing their investment proposals. These include IKEA, Dixon Technologies and AB Morgan. We will share exact numbers later,” said a senior officer.

The state government has constantly interacted with the investors after signing the MoUs through the Uttar Pradesh Global Investors Summit-2023. The state government had recruited 105 Udyami Mitras (friends of investors) to keep in touch with the investors and they were posted in various development authorities too to get the issues concerning the investors resolved.

“The Udyami Mitras have been helpful in handholding of the investors,” said the officer, adding the Nivesh Mitra portal has been the single window clearance system for all the investors to bring the investment to the ground. The state government had also set up at least six country desks to keep in touch with the investors in the USA, Europe or in other countries. It also has eight support units each coordinating with some departments.

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  • ABOUT THE AUTHOR
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    Umesh Raghuvanshi is a journalist with over three decade experience. He covers politics, finance, environment and social issues. He has covered all assembly and parliament elections in Uttar Pradesh since 1984.

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